Over/Under Billing

Presented by Brian Cancian

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Today’s Session

1 What is Over/Under Billing or WIP?

Configuring FOUNDATION to calculate WIP

Ongoing system utilization and adjustments

Over/Under or WIP reporting2

3

4

What is Over/Under Billing or Work in Process (WIP)?

The process of calculating the revenue earned on a project based on the actual percentage of completion, comparing it to what has actually been billed against the job, and adjusting the financial statements accordingly.

Configuring Your Software

• Proper settings for Over/Under Billings• G/L Control File • G/L Account Records• J/C Control File• Bonding Report Classes Control File

Ongoing Utilization

• Proper Job Setup• Approved Change Orders (Owner C/O’s)• Budget Adjustments (Estimate C/O’s)

Over/Under Reporting

• How do you run the report?• Where do the figures pull from?• How are the numbers calculated?• What if something isn’t correct?• Can financial statements be updated?

Thanks for Attending

www.foundationsoft.com btc@foundationsoft.com

Over/Under Billing